subject: Why Should Customers Want To Buy From A Bindatabase? [print this page] The wide usage of credit cards and debit cards has created more markets as people try to capitalize on the new business. Used every day by almost everyone in the civilized world, credit cards and debit cards are a growing industry. The credit card has sailed into even greater popularity since the advent of electronic banking. The BINdatabase is the inevitable security measure.
BINdatabase for peace of mind
Many people do not feel comfortable with carrying cash. They may feel that they will lose it, it's too bulky, or they are afraid of being robbed. With a credit card you can cancel your card before the mugger can take your savings out. Cash, is however another store, and a tragic one at that.
What most card holders don't know is the BINdatabase, or Bank Identification Number database. These numbers can protect them further from fraud and identity theft. Because of this safety and ease the credit card use and debit card use, both have jumped in frequency.
Once called the IIN (Issuer Identification Number), the BINdatabase, is full of these numbers that represent the various banks that have issued them. This is why the earlier name was Issuer Identification Number. These are the numbers merchants require to determine the validity of a card. Mostly the origin and issuer of the card is looked up for the sake of speed. A BINdatabase can protect you and the merchant.
BINdatabase and Countries
Although the issuing nation should not be the measuring stick by which the validity of a credit card or debit card, this is apparently the standard for a BINdatabase as this is used even worldwide. This may make the average person assume that the most fraudulent incidences are caused by foreign cards. This is not true, local credit card fraud is more likely due to the regularity of local credit cards. BINdatabase usage cuts back on the risk.
These are usually the numbers, the first six to be exact that make up your credit or debit card number. The last numbers after the first six are all dealing with that particular card and are always a unique number. This makes sure that there are no two cards with the same number that is the same number from the same issuer. If the first six don't match but the rest of the number are an exact match, that is no problem either. When you are verified with the right entry, your purchase can go through. If not, well you have got yourself a nice problem there.
Free BINdatabase can you trust it?
Free BINdatabase, can be found online, for both card holders and the usual, merchants. This database keeps track of information such as card usage and locations of purchases. Having these databases helps to keep the merchants and you safe from fraudulent cards.
Fortunately, the ability to get a BINdatabase is available for everyone with an Internet connection. You can obtain a free BINdatabase that can start you out. However for as much accuracy as possible you may have to take on the services of a pay BINdatabase, site.
There is one very useful fact that a merchant or customer can get from a BIN database, and that is the phone number of the credit card holder, this just in case anything is amiss but it can be used for crime prevention.
